Disney’s shareholders could have simply saved the corporate! The newest shareholder vote has determined towards bringing Nelson Peltz onto the Board of Directors.
It’s been an fascinating week for Disney followers. Recently, a proxy battle across the firm’s Board of Directors has come to a head, with activist investor Nelson Peltz trying to exchange lots of the seats with himself and allies of his to make modifications to the corporate, together with eliminating the corporate’s plans for “woke” movies.
“People go to watch a movie or a show to be entertained,” Peltz advised the Financial Times. “They don’t go to get a message. Why do I have to have a Marvel that’s all women? Not that I have anything against women, but why do I have to do that? Why can’t I have Marvels that are both? Why do I need an all-Black cast?”
These feedback led many followers to fret that Nelson Peltz would attempt to pull an organization towards a reactionary bent, being the newest in a protracted line of billionaires buying media firms in an try and additional their agenda below the guise of eliminating the “woke” agenda.
Disney’s Shareholders Block Nelson Peltz’s Takeover
Luckily for followers of Disney, it appears Nelson Peltz gained’t be getting his needs. Peltz was roundly rejected by shareholders, together with the likes of George Lucas and ex-CEO Michael Eisner. A report reveals that Peltz obtained a meager 31% of the votes. In comparability, present CEO Bob Iger obtained 94%.
Of course, the struggle towards activist buyers like Nelson Peltz is much from over. It’s possible Peltz will proceed to attempt to get some affect over Disney, particularly given former Chairman of Marvel Entertainment Ike Perlmutter has put his weight behind him. However, Disney followers can take a deep breath realizing that day possible gained’t be at present.